CWA Asset Management Group LLC Sells 10,415 Shares of Schlumberger Limited (NYSE:SLB)

CWA Asset Management Group LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 189,660 shares of the oil and gas company's stock after selling 10,415 shares during the quarter. CWA Asset Management Group LLC's holdings in Schlumberger were worth $7,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC increased its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $40,000. Sound Income Strategies LLC raised its position in Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Schlumberger in the fourth quarter worth $46,000. Finally, Heck Capital Advisors LLC bought a new stake in Schlumberger in the fourth quarter valued at $47,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Susquehanna reduced their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Wells Fargo & Company dropped their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.38.

Schlumberger Stock Down 0.6%

Shares of NYSE:SLB traded down $0.23 during trading on Thursday, reaching $35.85. 17,576,558 shares of the stock traded hands, compared to its average volume of 13,593,607. The stock has a market cap of $48.76 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 9.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The stock has a 50-day moving average of $34.43 and a two-hundred day moving average of $38.22. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.